Henry Construction Projects - Case Update

The joint administrators of a London high-rise construction company have finally been able to download the company’s electronic records, sharing that the process took four months in total.

Henry Construction Projects entered administration on 8 June, after a winding up petition brought against the company was widely advertised in the construction industry, causing the company’s subcontractors to make demands for payment and its debtors to stop making payments that were due. Geoffrey Rowley and David Hudson of FRP Advisory were appointed joint administrators.

Since they were appointed, the joint administrators have focused on securing the company’s electronic records (which were cloud-based and extended to over 15 terabites), as well as realising the company’s assets. The record collection process has been complicated by the sheer volume of documents, as well as the fact that they were poorly maintained and incomplete.

Auctions have been carried out by Euro Auctions UK and are ongoing, resulting in the sale of plant and machinery totaling approximately £1.4 million. 11 of the 17 owned cranes have been sold.

At this time, preferential creditors are expected to be paid in full and it is possible that there may be a distribution to unsecured creditors.

The joint administrators have been assisted by Mishcon de Reya (legal), Gateley Vinden (quantity surveyors) and Hilco (valuers). Their latest progress report can be found HERE.